Reviving the Singapore construction sector with data

THE construction sector in Singapore is in a delicate position.

The past two years have brought unprecedented challenges, with the shortfall in resources, fluctuating raw material costs, project delays, and supply chain issues blowing budgets out and leading to sectoral insolvencies.

While the construction industry is slowly recovering, current macroeconomic and geopolitical factors inevitably raise new issues for builders in Singapore. In the first seven months of this year, according to data from the Accounting and Corporate Regulatory Authority (Acra), some 1,370 construction businesses ceased operations.